CPI to hold nationwide protest against price rise in cement, steel

New Delhi, Jun 14 (UNI) The Communist Party of India (CPI) has decided to hold nationwide protest against the continuous rise in prices of steel and cement.

The party took the decision of holding the nationwide protest at its meeting held here on June 12.

It called upon all party and mass organisations to organise protest all over the country.

The CPI in a statement issued here today said the Indian cement industry is beng controlled by private sector. The rise in the price of cement was from Rs 135 for 50 kg in December 2005 to around Rs 245 for the same quantity today and is expected to rise further.

Even though the talks with Commerce Minister Kamal Nath resulted in the manufacturers agreeing to reduce price for Governemnt purchases by 5 per cent, it should be seen that Government is a very minor purchaser of cement, it said.

The statement further added that in view of the tight demand supply situation due to heavy demand in housing and infrastructrue sectors, the cement manufacturers have earned huge profits by steeply hiking cement prices by over 50 per cent.

It is time that UPA Governemnt reverses the trend of liberalisation, privatisation and globalisation which have not helped the common people and only increased their miseries, the CPI said.

Similarly, the UPA Government has totally failed to check the rising steel prices. The inflationary impact, both direct and indirect, of this phenomenon can be seen in the prices of consumer products, the release added.